Progressive Business Insurance Review

Whether you’re opening a toy store or a beauty salon, Progressive business insurance has you covered, with policy options for most types of small businesses. In addition, it boasts some of the best, if not the best, commercial auto insurance policies. Its commercial auto insurance includes more options for people who rely heavily on vehicles for their business (cargo transport, tow truck drivers, etc.) than any of our other favorite business insurance providers. What’s more, if you need to file a claim or have a question, the commercial claims processing center is open 24/7.

Our only complaint? We would have liked to see more coverage options for larger commercial clients. Progressive provides many options for smaller businesses and smaller-scale manufacturing, but nothing like product liability for wholesale businesses. Still, if you own a small business or want to take advantage of Progressive’s outstanding commercial auto insurance, it’s worth getting a quote.

The Claim

Progressive claims to provide “customized coverage for your business,” boasting that it’s the “No. 1 commercial auto insurer in America.”

Is it true?

Sort of.

Progressive’s claim is based on a 2015 study by SNL Financial, which ranked Progressive as No. 1 in commercial auto insurance. The following year, Progressive was ranked No. 1 once more in a listing featured by the Insurance Information Institute.

While the studies Progressive cites are several years old, it’s clear that it still tops the competition in at least one category: commercial auto insurance. This coverage includes liability protection, driver protection, vehicle protection, coverage for trucks, tow-specific coverage, and even specialty coverage (non-owned car, hired auto, etc.). Progressive’s commercial auto insurance far outweighs anything the competition has to offer, with a greater number of policy options and more personalized coverage — including Pet Injury Coverage and on-hook protection for tow trucks, neither of which are found in competitors’ policy lineups.

That’s not to say that Progressive falls short in the rest of its business insurance options; with insurance options for garages, restaurants, beauty salons, and more, there is likely an option that meets your business needs. However, because Progressive uses third-party underwriters for all policies except its commercial auto insurance, you may have a less consistent experience when it comes to claims, customer support, and billing. If you need liability protection beyond commercial auto insurance, we recommend comparing quotes with our other top providers.

Product Overview

Best for

Small business owners or anyone in need of extensive commercial auto insurance coverage

Not for

Large-scale commercial clients with specific policy needs

Features

Price Quotes differ from person to person
In business since 1937
Standout features General liability insurance
Commercial auto insurance
Business insurance for contractors
Discounts for bundling general liability and commercial auto insurance
24/7 claims support
Online bill payment
Online quote process
Number of commercial auto insurance coverage options 24
Number of general liability insurance coverage options 5
A.M. Best financial strength rating A+ ("Superior")
A.M. Best issuer credit rating aa ("Superior")
Moody's rating A2 ("Strong")

Standout truck insurance

Progressive’s claim to fame is its commercial auto insurance policies, the only type of business insurance it underwrites itself. The company offers 24 unique commercial auto coverage options, grouped into six categories: liability protection, driver protection, vehicle protection, specific protection for trucks, speciality coverage, and tow-specific coverage. This variety, unmatched by the competition, enables you to design a policy that targets your specific coverage needs. Whether you want to insure a single passenger sedan or a fleet of dump trucks, Progressive has the policy options to provide you with comprehensive coverage for all of the risks you and your employees face on the road.

Discount opportunities

Progressive currently offers eight commercial auto discounts, plus a discount for bundling general liability insurance with commercial auto insurance. These range from policies that reward customers who have had Commercial Driver’s Licenses for at least three years to discounts that let you save on personal auto insurance through Progressive. There’s even a Smart Haul® Program where truckers who utilize an electronic logging device could be eligible to save 3% minimum on their Progressive truck policy.

Business insurance learning resources

The Progressive website is a good resource for learning about business insurance basics. Find descriptions of complex insurance coverage options, a detailed insurance glossary, and insurance buying guides. Not sure about the difference between commercial and personal auto insurance? Check out the semi-interactive page that details the difference while evaluating your needs. Need more guidance on specific topics? Its business resources section is almost a separate site unto itself – a hub page leading to dozens of articles and detailed posts that tackle various aspects of business insurance and how they pertain to you.

Possible drawbacks

Business owner's policies underwritten by third-party insurers

Commercial auto insurance is the only business product Progressive handles in-house. All other business policies, such as general liability, property, or workers compensation policies, are sold under the Progressive Commercial AdvantageSM program written by third-party insurers.

If you purchase a policy through the program, all associated services — including billing, claims, and customer service — are handled by the third-party insurer, not Progressive. Although well-known insurers like CNA, Hanover Insurance Group, Travelers, and The Hartford all make policies available through the Progressive Commercial AdvantageSM program, it’s important to be cognizant of just who you’re dealing with when shopping for a business policy under this program. If you find a mistake in your claim, you might not immediately know which third-party insurer handled it, adding time and stress to the already complicated nature of insurance.

The Competition

Progressive
Nationwide
Allstate
Farmers Insurance
Our review
Our review
Our review
Our review
A.M. Best financial strength rating
A+
A+
A+
A-
A.M. Best issuer credit rating
aa
aa
aa
a-
Moody's rating
A2
A1
A3
A2
S&P Global rating
A
A+
A-
A

Progressive vs. Nationwide

Nationwide advertises more industry-specific insurance coverages than Progressive. If you’re a small business and the nature of your work doesn’t fall under Progressive’s offerings, Nationwide’s a safer bet — it underwrites packages for business liability, commercial property, and commercial auto, with a wealth of customizable coverage options under each category. Its commercial auto coverage options aren’t as robust as Progressive’s, but it’s worth getting a quote if you have other business needs.

Progressive vs. Allstate

Allstate offers most of the basic coverage options you would come to expect with commercial auto insurance. However, Allstate lacks some of the additional features that make Progressive such a heavy-hitter in the world of business auto. Say, for example, you’re a trucker and you need to transfer your trailer to another trucker in order to complete shipment. You’d need Trailer Interchange Insurance, which Progressive offers but which is missing from Allstate’s lineup. That being said, Progressive’s business-specific coverages don’t hold a candle to the 36 — bakeries, retail, florists, locksmiths, dentists, etc. — offered by Allstate. If you have more specific needs, we recommend getting a quote from both companies to see how their offerings stack up.

Progressive vs. Farmers Insurance

Farmers Insurance hosts an impressive list of industry-specific packages — commercial real estate, wholesale, education/non-profit, etc. — that, for the most part, overshadows the advertised options offered by Progressive. However, Progressive’s commercial auto coverage more than tops what Farmers has to offer. Missing from Farmers’ commercial vehicle insurance repertoire are Pet Injury Coverage and Garagekeepers Legal Liability insurance, to name just a few. Our recommendation? Get a quote from both companies to see how they compare in terms of your specific business needs.

Progressive Business Insurance FAQ

When would I need liquor liability insurance?

Progressive business insurance policies define liquor liability as coverage for any business that serves, sells, distributes, manufactures, or supplies alcoholic beverages. Bars, caterers, restaurants, breweries, wineries, grocery stores, and liquor stores would all need liquor liability insurance.

What is non-owned coverage?

Non-owned car insurance covers a situation where one of your employees is in an accident while using their personal vehicle for your business — this is important coverage for businesses that specialize in delivering invoices or food delivery services that require employees to use their own vehicles.

How much does Progressive commercial auto insurance cost?

The price of commercial auto insurance varies depending on the nature of your commercial vehicle, where you operate, and the nature of your business. To get a better idea of how much it will cost, get a quote online or speak with a Progressive agent. It’s also wise to shop around and look for quotes from multiple companies — one company may offer you a significantly lower rate for the same amount of coverage.

What commercial auto protections does Progressive offer?

Progressive offers 24 commercial auto protections, which are grouped into six branches — liability protection, driver protection, vehicle protection, specific protection for trucks, speciality coverage, and tow-specific coverage. Those insurance protections include:

  • Any Auto
  • Bodily Injury
  • Collision
  • Comprehensive
  • Drive Other Car
  • Fire and Theft with CAC
  • Garagekeepers Legal Liability Insurance
  • Hired Auto
  • Individual Named Insured Endorsement
  • Liability
  • Medical Payments
  • Motor Truck Cargo
  • Motor Truck General Liability
  • Non-Owned Car
  • Non-Trucking Liability
  • On-Hook Towing Insurance
  • Personal Injury Protection
  • Pet Injury Coverage
  • Physical Damage
  • Property Damage
  • Rental Reimbursement with Downtime
  • Single Deductible Endorsement
  • Trailer Interchange
  • Uninsured Motorist

The Bottom Line

Progressive has a lot to offer commercial clients who do a lot of driving and deliveries, with the financial strength to support you in the unfortunate event of a claim. Its commercial auto policy coverage options are unmatched. That said, its industry-specific coverage is less robust than competitors, and everything but its commercial auto policies is underwritten by third-party insurers — meaning your claims and customer service experience may vary. However, it’s still worth grabbing a quote as you begin your search for business insurance: Progressive’s options are solid, and it's likely that you'll find a policy to match your needs.